San Francisco

Elon Musk run-Tesla has launched its flagship Model S and Model X with standard variants at more affordable prices in the US and Canada, slashing it by $10,000 amid fierce competition in the premium EV car market.

The introduction of the Model S and Model X Standard Range was spotted on Tesla’s online configurator, reports to source.

On Tesla’s official website, the Model S Standard Range is now priced at $78,490 before options. The Model S SR offers a range of 320 miles of range per charge and a 3.7-second, 0-60 mph time. The vehicle also features a top speed of 149 miles per hour.

The Tesla Model X Standard Range is now offered at a starting price of $88,490 before options. The users could acquire the all-electric SUV that features a range of 269 miles per charge and a 0-60 mph time of 4.4 seconds. The Model S SR and Model X SR provide a lower entry point for the two Tesla flagship EVs. At less than $80,000 for the Model S SR and less than $90,000 for the Model X Standard Range, the vehicles could very well be a steal deal, said the report. Unlike Tesla Model 3 and Model Y, which are eligible for a $7,500 US tax credit, the S and X receive no discounts. The company has reduced prices of its cars in the past to sell more units. Tesla reported a revenue of $25 billion with a net income of $2.7 billion (up 20 per cent year-on-year) in the second quarter (Q2) this year.